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Australian employment: Sept figures disappoint, full-time jobs fall

FXStreet (Bali) - Australian employment change for September came at -5.1k vs +5k expected and 17.4k last (revised to 18k). Full time employment was -13.9k vs 11.5 (revised to 11k) last, while part-time stood at 8.8k.The jobless rate declined to 6.2 % vs 6.3% exp. Participation rate was 64.9% vs 65% prior.

Key points

TREND ESTIMATES (MONTHLY CHANGE)

Employment increased to 11,775,800.

Unemployment increased to 780,600.

Unemployment rate remained steady at 6.2%.

Participation rate increased less than 0.1 pts to 65.0%.

Monthly hours worked in all jobs increased 1.8 million hours to 1,631.9 million hours.


SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

Employment decreased 5,100 to 11,769,900. Full-time employment decreased 13,900 to 8,124,400 and part-time employment increased 8,900 to 3,645,500.

Unemployment decreased 8,100 to 772,500. The number of unemployed persons looking for full-time work decreased 6,000 to 556,100 and the number of unemployed persons only looking for part-time work decreased 2,200 to 216,500.

Unemployment rate remained at 6.2%, but decreased 0.1 pts based on unrounded estimates.

Participation rate decreased to 64.9%, a 0.2 pts decrease based on unrounded estimates.

Monthly hours worked in all jobs increased 12.2 million hours (0.7%) to 1,638.0 million hours.

Australia RBA Foreign Exchange Transaction up to 712M in September from previous 336M

Australia RBA Foreign Exchange Transaction up to 712M in September from previous 336M
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AUD/USD paring gains after poor Aussie jobs

AUD/USD has been offered on the back of the bearish jobs data from Australia. The employment change was a decline 5,100 jobs decline vs expected 5.0k. The unemployment rate was 6.2% vs 6.35 expected while the 64.9% participation rate was virtually in line with expectations of 65%.
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